Paperwork required to handle TDS on sale of property

TDS deduction mandatory

April 06, 2017, 16:19 IST
It is mandatory for buyers of immovable property to deduct TDS from the amount to be paid to the seller. The buyer is required to deduct TDS @ 1% on the total consideration and deposit the same in the account of the income tax authorities in the prescribed format. Here's the low-down: